Norges Bank Makes New $237.83 Million Investment in Chart Industries, Inc. $GTLS

Norges Bank purchased a new position in Chart Industries, Inc. (NYSE:GTLS) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,153,211 shares of the industrial products company’s stock, valued at approximately $237,827,000. Norges Bank owned 2.57% of Chart Industries as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Chart Industries by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,216,271 shares of the industrial products company’s stock worth $243,433,000 after buying an additional 8,697 shares during the period. UBS Group AG increased its position in Chart Industries by 76.9% in the 4th quarter. UBS Group AG now owns 1,180,965 shares of the industrial products company’s stock worth $243,550,000 after buying an additional 513,195 shares during the period. Geode Capital Management LLC increased its position in Chart Industries by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,087,251 shares of the industrial products company’s stock worth $224,259,000 after buying an additional 3,570 shares during the period. Balyasny Asset Management L.P. increased its position in Chart Industries by 2,251.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,018,831 shares of the industrial products company’s stock worth $203,919,000 after buying an additional 975,501 shares during the period. Finally, Millennium Management LLC increased its position in Chart Industries by 222.7% in the 3rd quarter. Millennium Management LLC now owns 813,865 shares of the industrial products company’s stock worth $162,895,000 after buying an additional 561,622 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have commented on GTLS shares. Zacks Research downgraded Chart Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, April 27th. Wall Street Zen cut Chart Industries from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Chart Industries in a research report on Friday, March 27th. Eleven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Chart Industries has an average rating of “Reduce” and a consensus price target of $201.80.

Chart Industries Stock Performance

GTLS opened at $208.20 on Wednesday. The stock has a market cap of $9.97 billion, a PE ratio of 800.81, a P/E/G ratio of 1.22 and a beta of 1.53. The company has a current ratio of 1.53, a quick ratio of 1.21 and a debt-to-equity ratio of 1.15. Chart Industries, Inc. has a 1 year low of $140.50 and a 1 year high of $208.76. The stock’s 50 day simple moving average is $207.53 and its 200-day simple moving average is $206.69.

Chart Industries Company Profile

Chart Industries, Inc (NYSE: GTLS) is a leading global manufacturer of engineered equipment for the storage, distribution and end-use of hydrocarbon and industrial gases. The company specializes in cryogenic systems and components, serving key markets such as energy, chemical processing, industrial gas, food and beverage, and medical gases. Chart’s product portfolio includes large-scale cryogenic storage tanks, vaporizers, heat exchangers and pump systems designed to maintain gases in liquid and gaseous states under extreme conditions.

Founded in 1992 and headquartered in Ball Ground, Georgia, Chart Industries has evolved through targeted acquisitions and organic growth to expand its technological capabilities and geographic reach.